After Febuary 14th you can wait another 6 months...

I am hopeful that anyone who is now on a list, in SISIP's computer, receiving monthly payments now, should see retro flow fairly quick, best answer anyone can give now.

It didn't take long for them to get things moving last fall, and last summer, for those already in system, no lapses, etc...

These are my own personal thoughts and do not reflect the thoughts of GOC, our legal team, etc...

If your a person that has to go through arbitration, etc...it could and will take longer...

This is an application of common sense, though, which may or may not happen.

D

5% ???

propat

If it takes till August to receive your retro, you will get interest until the date the check is cut, Kristine at the law firm told me this when I called today.

I said this before, if MC has a mixed trust account, you wil not recieve the interest, if because of the case being so large (which I think is the case) they will have had a separate trust account setup. Many firms use mix trust accounts and cannot keep the interest built in this acccount. It is more then likely that it is a stand alone account because of the vast amounts of money coming in and being dispursed. This should be disclosed to the class.

Supreme

this money is held in trust .....rags u are likely wrong

well ive said april many months ago and keep saying it and will till im proven wrong.soooo i hope im right to but i suppose we will see.

propat

Hope your right.

i do understand this but M/C is hiring extra staff to try to get the checks out within 48 hours if the erlier posts are correct.so that will not be the delay.their will be a lot of work needed to be done to find some of the class that may not know they are in the class and even these guys need to be paid within the six months.so i think april is still a really good month to look at.

propat

I hope your right but if the courts gave SISIP 6 months to get all in order and I think I read MC has 6 months to disburse we are looking at some amount of time April seems rater soon. 800,000,000 million in a bank account for even 30 days is a great play on the market to make money the old fashioned way. Dont think for a second the accountants of the firm, banks who transfer and government wont make the play. My coffee bet is on 6 to 9 months. I live in TCI in the winters normally, I could make an easy guess at who gets status or business accounts in Caribean in 2012 with 70 million and 800 million kicking around for 3 to 9 months in 2013. Dont hate the player hate the game it is just business.

ill say it again look to april for moast.some may take some time.

propat

During a global interview Dennis Manuge suggested that paid out could take up to 6 months but he assumed due to technology it would happen faster than that.

No problem Sapper. Wish I could be of more help. My dad was a with 22 fld sqdn in Gagetown when he released in 92. He was a Sgt, but you might know each other.

Thanks Bigrex. Been there done that, and I am just guessing as to the year. But I still feel these are questions that should be dealt with prior to agreeing to this settlement. I was Cpl 1 pay in 1990...this is where I am guessing from.
Thanks again.
Chimo
Sapper Zodiak

Sapper, if you google CF rates, it will list a link where historical rates are given for each rank. From that you should be able to determine what the 75% mark would be at release. that will give you a starting point at least.

The funding to cover this class action is in place, you can read what was budgeted here:
http://www.fin.gc.ca/efp-pef/2012/efp-pef-03-eng.asp

Back in Sept. I sent in an ATIP request to treasury board asking:
Seeking information on a Memorandum to Cabinet to a department that requires additional funds in order to meet legislative or regulatory requirements. Specifically, I would like to know if the Government has started the process of attaining the funds for the settlement of a class action lawsuit: Manuge v Canada (F.C.), 2008 FC 624, (2009) 1 F.C.R.416 (The SISIP Class Action) and atwhat stage The Memorandum to Cabinet is.

The reply was delayed 30 days, then 120 and finally I was told it was a 17 page memorandum and due to confidentiality that is all I needed to know.
Was hoping to see it, and if they had budgeted legal fees.

So the GoC has the funds, it's all logistics at this point in time.